Eastern Bank Grows Position in Costco Wholesale Co. (NASDAQ:COST)

Eastern Bank increased its holdings in Costco Wholesale Co. (NASDAQ:COST) by 0.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 22,571 shares of the retailer’s stock after acquiring an additional 197 shares during the quarter. Eastern Bank’s holdings in Costco Wholesale were worth $20,681,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Fermata Advisors LLC lifted its stake in Costco Wholesale by 0.6% in the third quarter. Fermata Advisors LLC now owns 1,968 shares of the retailer’s stock worth $1,745,000 after acquiring an additional 11 shares during the period. Sculati Wealth Management LLC raised its holdings in Costco Wholesale by 0.3% in the third quarter. Sculati Wealth Management LLC now owns 3,649 shares of the retailer’s stock worth $3,235,000 after purchasing an additional 11 shares in the last quarter. Sivia Capital Partners LLC raised its holdings in Costco Wholesale by 0.3% in the fourth quarter. Sivia Capital Partners LLC now owns 3,708 shares of the retailer’s stock worth $3,398,000 after purchasing an additional 11 shares in the last quarter. Perkins Coie Trust Co raised its holdings in Costco Wholesale by 0.3% in the third quarter. Perkins Coie Trust Co now owns 4,675 shares of the retailer’s stock worth $4,144,000 after purchasing an additional 12 shares in the last quarter. Finally, Horizon Wealth Management LLC raised its holdings in Costco Wholesale by 4.7% in the third quarter. Horizon Wealth Management LLC now owns 268 shares of the retailer’s stock worth $237,000 after purchasing an additional 12 shares in the last quarter. 68.48% of the stock is owned by hedge funds and other institutional investors.

Costco Wholesale Trading Down 1.3 %

Shares of NASDAQ:COST opened at $924.70 on Tuesday. Costco Wholesale Co. has a 1 year low of $675.96 and a 1 year high of $1,008.25. The firm has a market capitalization of $410.47 billion, a price-to-earnings ratio of 54.30, a price-to-earnings-growth ratio of 6.02 and a beta of 0.84. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.97 and a quick ratio of 0.44. The business’s 50 day moving average price is $948.69 and its 200-day moving average price is $899.73.

Costco Wholesale Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 1st were given a dividend of $1.16 per share. The ex-dividend date was Friday, November 1st. This represents a $4.64 dividend on an annualized basis and a dividend yield of 0.50%. Costco Wholesale’s dividend payout ratio (DPR) is 27.25%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on COST shares. StockNews.com downgraded shares of Costco Wholesale from a “buy” rating to a “hold” rating in a report on Friday, September 27th. Morgan Stanley upped their price objective on shares of Costco Wholesale from $950.00 to $1,150.00 and gave the company an “overweight” rating in a report on Friday, December 13th. Telsey Advisory Group restated an “outperform” rating and set a $1,100.00 price objective on shares of Costco Wholesale in a report on Thursday, January 9th. Stifel Nicolaus upped their price objective on shares of Costco Wholesale from $935.00 to $1,000.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Finally, Loop Capital upped their price objective on shares of Costco Wholesale from $1,005.00 to $1,095.00 and gave the company a “buy” rating in a report on Friday, December 13th. Nine investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $1,013.59.

Insider Buying and Selling at Costco Wholesale

In other Costco Wholesale news, EVP Richard A. Galanti sold 1,416 shares of the firm’s stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $894.68, for a total value of $1,266,866.88. Following the transaction, the executive vice president now owns 27,400 shares in the company, valued at approximately $24,514,232. This trade represents a 4.91 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.18% of the stock is currently owned by insiders.

Costco Wholesale Profile

Costco Wholesale Corporation, together with its subsidiaries, engages in the operation of membership warehouses in the United States, Puerto Rico, Canada, Mexico, Japan, the United Kingdom, Korea, Australia, Taiwan, China, Spain, France, Iceland, New Zealand, and Sweden. The company offers branded and private-label products in a range of merchandise categories.